2 years ago
The United States authorities is 1 of the astir important Bitcoin (BTC) holders successful the world, holding 205,514 BTC — worthy $6 cardinal — according to Glassnode data.
Reflexivity Research co-founder Will Clemente noted that the U.S. authorities acquired its BTC done seizures.
Source: GlassnodeFor context, the U.S. Department of Justice seized $3.6 cardinal worthy of Bitcoin connected to the 2016 Bitfinex hack past year. Before that, the authorities took 70,000 BTC from Ross Ulbricht erstwhile it brought down the Silk Road.
The U.S. government’s important BTC holding places it up of whales similar MicroStrategy — which has spent implicit $4 cardinal to get 140,000 units of the flagship integer asset.
Meanwhile, the largest BTC holder is the pseudonymous creator of the blockchain network, Satoshi Nakamoto, with 1 cardinal BTC. Grayscale Bitcoin Trust follows him with 650,000 BTC. Others connected the database see exchanges similar Binance, Coinbase, and Bitfinex.
What would the US authorities bash with its BTC?
Judging by its precedence, the U.S. authorities would apt merchantability disconnected the integer assets successful the adjacent fewer years.
In March, the U.S. authorities filed a memo successful the Southern District of New York showing it sold 9,861.17 BTC for $215.5 million. The memo revealed that the sold BTC was portion of the assets it seized from the Silk Road marketplace.
The tribunal filing further hinted that the authorities would inactive merchantability much BTC earlier the extremity of the year. Earlier this week, rumors emerged that the authorities was selling portion of these assets.
Meanwhile, galore manufacture players person criticized the government’s penchant for selling, pointing retired that it could person made much wealth by holding. For instance, the U.S. authorities sold 29,657 Bitcoin for astir $18 cardinal successful 2014. Today, the aforesaid plus would beryllium worthy astir $900 million.
The station US authorities holds $6B worthy of Bitcoin: Glassnode data appeared archetypal connected CryptoSlate.
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